Operating revenues are up at Wynn Macau but down at Wynn Palace the operator said in results released early this morning Macao time
Business
Local researchers have released revised projections for a range of economic indicators, including GDP, services exports, government revenue and inflation
The month saw Macao’s casinos’ generate 20.8 billion patacas (about US$2.6 billion) in gross gaming revenue, beating May’s previous record by about 600 million patacas
Officials attributed the decline to casino operators increasing their capital in 2022, readying themselves to put tenders in for their new gaming concessions
President Kenneth Feng said ‘We are delighted to see the recovery in Macao, along with the diversification development of the city’
The credit rating agency forecasts growth of 15 percent for this year, and 8 percent for 2025, citing strong tourism performances and policy support
Exports to Hong Kong, Belt and Road Countries and the EU expanded in the first three quarters of this year, whereas exports to mainland China and the USA saw declines
Macao’s new chief executive will usher in an era of ‘much tighter oversight by Beijing,’ according to Hong Kong risk consultancy Steve Vickers Associates
Numbers from the Statistics and Census Service show that Macao’s five-star hotels fared best, with their average occupancy rates for the first nine months of 2024 going up by 6 percent compared to the same period in 2023